Newtown Pension Committee
Minutes
November 16th, 2009
The Newtown Pension Committee met on Monday, November 16th, 2009 in the conference room of Town Hall South. The meeting was called to order at 7:32pm.
Present: Tom Murtha, Barbara Bloom, Frank Krasowski, Dunham Smith, Steve Shaffer.
Also in attendance: David Leonard and Carole Ross.
Mr. Leonard presented the actuarial report for 2008-2009. In spite of the recent recovery to the pension fund, Mr. Leonard is recommending two contribution amounts. Newtown has had a much better year than other towns Mr. Leonard is aware of. At present, the town pension is 91% funded and the police pension is 70%. The committee will hold a special meeting on December 14th to discuss the contribution amount. Mr. Leonard will prepare a condensed statement regarding this and his recommendation for the two amounts. The reason for the increase in the amounts is due to the losses, future liabilities and an updated mortality rate.
Approval of Minutes: Passed as written.
Communications: Correspondence from Westport Resources regarding the committees request for an auditors report. Mr. Murtha will contact Mr. Vaccaro regarding this and what they would like.
Mrs. Ross presented the annual report. This was passed with several changes as attached.
Approval of Bills: None.
Public Participation: None
Meeting adjourned at 8:20
Carole Ross
Clerk
| 
